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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the latest in property, including CoreLogic’s latest findings, which suggest national home values have increased at the fastest pace in over 30 years, and why he isn’t quite sure this is the case.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about soaring travel stocks, the rising popularity of NFTs and what they are, as well as the sudden meltdown of Archegos Capital Management.

And lastly, tax and super guru Timothy Munro gives his thoughts on Paul Keating’s early release of super verdict, as well as an overview of life after JobKeeper.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Home values up 30% (or are they); NFTs taking the world by storm, and why Keatin...

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Tensions emerge as house prices continue to rise

By Cameron Micallef

March 11 2021
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Invest

Tensions emerge as house prices continue to rise

By Cameron Micallef
March 11 2021

A strong economic backdrop has led to a near 10-year high in consumer confidence, but evidence of tensions in the housing market have emerged as a result of rising affordability issues.

Tensions emerge as house prices continue to rise

By Cameron Micallef

March 11 2021
Share

A strong economic backdrop has led to a near 10-year high in consumer confidence, but evidence of tensions in the housing market have emerged as a result of rising affordability issues.

Westpac-Melbourne Institute’s consumer sentiment survey showed that in March the index rose by 2.6 per cent to 111.8 points and is now just 0.2 points below December’s decade high.

The rising consumer confidence reflects last week’s GDP figures showing that Australia’s economy is improving.

The big four bank said Australia’s containment of the virus, a vaccine rollout that will bring an end to the pandemic and an accommodating stimulatory government policies have all contributed to the sustained lift in consumer sentiment.

Despite an overall growth in consumers sentiment, Westpac said the survey showed “evidence of tensions emerging in the housing market”.

With the latest CoreLogic figures showing a 2.1 per cent increase in national dwelling prices for February, Westpac’s ‘time to buy a dwelling’ index slipped a further 3.6 per cent.

This is the fourth quarter in a row that values are down, with consumer sentiments around buying a home down 11.9 per cent from its peak in November.

“We have found this index to be closely linked to affordability in the past,” Westpac’s chief economist, Bill Evans, said.

“The decline suggests resurgent prices are already starting to curb buyer interest and that we may see some easing in the recent surge in demand from owner-occupiers, particularly from first home buyers who are the most sensitive to affordability.”

While consumers are less buoyed about buying a new dwelling, sentiment around future value continues to increase, with the index rising by a further 3.1 per cent in March to a new seven-year high.

House price expectations are particularly buoyant in NSW, Queensland and Western Australia, which are all predicted to grow up to 4.6 per cent.

“Surprisingly, expectations eased in Victoria, the state index easing back 2.1 per cent still 4 per cent below its pre-pandemic level,” Mr Evans said.

“To date, the optimism around house prices contrasts to reported attitudes towards ‘real estate’ as an investment option,” the economist concluded.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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